Societe Generale Lists European Top Equity Picks for 2015
Top picks by strategists Roland Kaloyan and Kevin Redureau incl: Accor, ArcelorMittal, Aviva, AXA, Credit Agricole, Deutsche Annington, EDF, Enel, Inditex, Intesa Sanpaolo, Nokia, Renault, Rio Tinto, Royal Dutch Shell, Vinci.
Key driver for equities in 2015, according to SocGen:
Buy high beta stocks: Eurostoxx 50 to rise 11% by end-2015 (target 3,500) supported by ECB easing, weaker euro, lower oil price
Buy high-yielding stocks: long-term peripheral govt bond yields should stay at record lows as ECB buys govt bonds in coming years
Buy restructuring stories: Some cos. are restructuring to boost profitability, boost margins
Buy French equities: Corporate tax cuts, lower labor costs will be implemented in 2015, 2016